Guideline Value for Rajaji Nagar Main Road

Rajaji Nagar Main Road guideline value

The current guideline value for Rajaji Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification is Residential Class II Type - I.

How the guideline value of Rajaji Nagar Main Road has changed

According to the register, there are no figures for Rajaji Nagar Main Road in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 2,200 per sq.ft.

As there are no previous figures for this street, the 2024 revision represents the first recorded guideline value for Rajaji Nagar Main Road.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Rajaji Nagar Main Road is below this median.

• Rajaji Nagar Maruthi Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajaji Nagar Main Road?

The Sub Registrar Office that covers Rajaji Nagar Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Main Road?

The current guideline value of Rajaji Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Rajaji Nagar Main Road?

Rajaji Nagar Main Road is classified as Residential Class II Type - I.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 that are registered under the Velacheri SRO.

What are the stamp duty and registration fees for a property on Rajaji Nagar Main Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000, based on the guideline value of Rs 22,00,000.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.